Field of the Invention
The present invention relates to a real time account control method and system that allows only eligible and authorized items to be purchased using the account. While having applicability to debit, or similar type, accounts generally, the method and system are explained as used in the healthcare environment. There, funds available in an account, for example, a flexible spending account (FSA) or a health reimbursement arrangement (HRA), are accessed to pay for over the counter (OTC) medications or any other eligible goods and services. More specifically, the invention enables a consumer of medical service and products to access funds available in an FSA or HRA healthcare spending account using, for example, a debit/credit card and pay for only eligible and authorized goods and services, such as over the counter medications at a pharmacy or other point of sale, without the necessity of obtaining and submitting a receipt either before or after the disbursement (or reimbursement) of funds. The method and system can be used by consumers at actual stores, at virtual stores (Internet purchases), and for mail order or phone order purchases.